Canadian Imperial Bank of Commerce Raises Bank of Nova Scotia (TSE:BNS) Price Target to C$109.00

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price target hoisted by research analysts at Canadian Imperial Bank of Commerce from C$108.00 to C$109.00 in a research note issued to investors on Thursday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price target indicates a potential upside of 9.54% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Barclays raised their target price on shares of Bank of Nova Scotia from C$106.00 to C$108.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 25th. Desjardins raised their price objective on shares of Bank of Nova Scotia from C$106.00 to C$107.00 and gave the stock a “hold” rating in a research note on Wednesday, February 25th. TD Securities cut shares of Bank of Nova Scotia from a “buy” rating to a “hold” rating and lowered their price objective for the stock from C$112.00 to C$111.00 in a research report on Tuesday. Jefferies Financial Group boosted their target price on shares of Bank of Nova Scotia from C$97.00 to C$104.00 in a research note on Wednesday, February 11th. Finally, Canaccord Genuity Group increased their target price on Bank of Nova Scotia from C$112.00 to C$118.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Two analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of C$107.42.

Bank of Nova Scotia Trading Down 2.0%

Shares of Bank of Nova Scotia stock traded down C$2.02 on Thursday, reaching C$99.51. 1,858,906 shares of the company were exchanged, compared to its average volume of 4,312,455. The stock has a fifty day moving average price of C$102.58 and a 200-day moving average price of C$95.44. The firm has a market capitalization of C$123.02 billion, a price-to-earnings ratio of 17.55, a price-to-earnings-growth ratio of 1.33 and a beta of 1.33. Bank of Nova Scotia has a fifty-two week low of C$62.57 and a fifty-two week high of C$106.39.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last released its quarterly earnings results on Tuesday, December 2nd. The bank reported C$1.93 earnings per share for the quarter. The business had revenue of C$9.77 billion during the quarter. Bank of Nova Scotia had a return on equity of 10.42% and a net margin of 16.48%. On average, equities analysts anticipate that Bank of Nova Scotia will post 7.1286267 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Julie Walsh sold 3,716 shares of Bank of Nova Scotia stock in a transaction on Monday, December 15th. The stock was sold at an average price of C$100.62, for a total transaction of C$373,903.92. Following the completion of the sale, the insider owned 1,430 shares of the company’s stock, valued at approximately C$143,886.60. This trade represents a 72.21% decrease in their ownership of the stock. Corporate insiders own 0.03% of the company’s stock.

Bank of Nova Scotia Company Profile

Bank of Nova Scotia is a global financial services provider. The bank has five business segments: Canadian banking, international banking, global wealth management, global banking and markets, and other. It offers a range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. The bank’s international operations span numerous countries and are more concentrated in Central and South America.